You are just about to finish college and are about to start a high paying job. Because of this new job, what is the most likely outcome in the market for cars?
A) Your demand for cars will increase.
B) The market supply of cars will decrease.
C) The demand and the supply for cars will decrease.
D) Your demand for cars will decrease.
E) The market supply of cars will increase.
A
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The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, then social welfare will most likely
A) not change but there will be a transfer from consumer to producer. B) not change but there will be a transfer from producer to consumer. C) decrease although producers are made better off. D) decrease although consumers are made better off.
The tax base is
A) the minimum amount of tax revenue that government must collect each year. B) the maximum amount of tax revenue that government must collect each year. C) the sum of all incomes earned in the United States. D) the value of all goods, services, incomes, or wealth subject to taxation.